TSX climbs away from fiscal cliff fear
The Toronto stock market was higher, extending the gains of the previous session amid growing optimism that Democrats and Republicans will get a deal on averting a U.S. fiscal crisis by the end of December.
The S&P/TSX composite index gained 81.21 points to 12,221.54 while the Canadian dollar was off 0.09 of a cent to 100.73 cents US.
U.S. indexes were also higher amid data showing the economy grew at an annualized rate of 2.7 per cent during the third quarter, which was much better than the two per cent rate estimated a month ago.
The Dow Jones industrials ran ahead 38.36 points to 13,023.47.
The Nasdaq was up 15.71 points to 3,007.49, while the S&P 500 index climbed 5.64 points to 1,415.57.
Royal Bank (TSX:RY) was up 36 cents to $58.71 as the bank posted quarterly net earnings of $1.9 billion or $1.25 a share. Adjusted net earnings came in at $1.27 a share, beating estimates by a penny.
Read more Business News
- Smith Creek: low erosion riskWest Kelowna - 10:29 am
- Alerts rescinded in RDOSPenticton / S. Okanagan - 10:00 am
- Wind knocks tree onto homeKelowna
- Hwy. 1 & 97A reopenBC - 1:17 am
|QHR Technologies Inc||1.16||+0.01|
|Anavex Life Sciences||0.26||-0.065|
|Copper Mountain Mining||2.75||-0.01|
|Sunrise Resources Ltd||0.025||-0.005|
|Mission Ready Services||0.19||+0.01|
The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...
The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...
Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...